According tStratistics MRC, the Global Nuclear Decommissioning ServicesMarket is accounted for $4.96 billion in 2017 and is expected treach $16.35 billion by 2026 growing at a CAGR of 14.2% during the forecast period. Some of the key factors fueling the market include accidents & rising political pressure for pre-closure, aging nuclear power plants and technological advancements. However, factors such as high cost and Nuclear Waste Disposal are hindering the market growth.

Nuclear decommissioning services are required after a plant reaches its end of operating life. This is carried out by dismantling structures, removing contaminated materials tappropriate disposal facilities, storing used nuclear fuel till it can be removed from the site of the nuclear power plant for disposal or safe storage, and releasing the property for other uses. These processes continue for a long duration, depending on the decommissioning process chosen. These services include decontamination, dismantling, site treatment, and waste disposal processes tmake the site reusable.

By Reactor Type, Pressurized Water Reactor (PWR) held considerable market share during predicted period. PWRs are highly chosen by industry operators owing tfactors such as high level of stability and ease toperate them. This segment is projected texhibit the strongest growth rate over the forecast period due tits extensive use and installation.

Based on geography, Europe is expected tgrow at the highest CAGR during the forecast period owing trise in shutdown down of nuclear reactors and the country’s plan for complete phase-out. Increasing political pressure in the region as a consequence of the Fukushima accident in 2011 has led tmarket growth.